GOL To Receive $200M Investment From American Airlines, Upgrades Codeshare Agreement

GOL Linhas Aéreas Inteligentes S.A. GOL has agreed to expand its commercial cooperation with American Airlines Group Inc AAL through an exclusive codeshare agreement for the next three years. GOL will receive an equity investment of $200 million (R$1.05 billion) from American Airlines.
The agreement between GOL and American Airlines expands beyond the terms of the existing codeshare partnership in place since February 2020.
American Airlines will invest $200 million in 22.2 million newly issued preferred shares of GOL in a capital increase, for a 5.2% participation in the economic interest for $9.00 per preferred share.
The partnership also enables customers to purchase connecting flights on both airlines using one reservation.
GOL's Smiles and American's AAdvantage loyalty programs will be partners in the frequent flyer program in the Americas, with enhanced benefits coming in early 2022.
Price Action: GOL shares are trading higher by 7.92% at $7.90 and AAL higher by 0.10% at $19.23 during the premarket session on Wednesday.